Manappuram Gold Loan Interest Rate

Last Updated 12th Feb 2018

Manappuram Gold Loan Interest Rates Feb 2018

Manappuram offers one of lowest gold loan rate of 9.90% , both for its existing bank customers as well as new borrowers. Manappuram jewel loan interest rate varies by amount of loan, purity of gold and loan to value ratio.
Check Best Offers.

Gold Loan in Manappuram

Gold Loan

Loan Details

Manappuram Gold Loan Rate

9.90% onwards

Processing Fee

Rs. 10 (to be paid at time of settlement)

Loan Tenure

1 day to 12 months

Loan Amount

Rs. 1,000 to Rs. 1 Cr

Prepayment Charges

Nil

Gold Loan Scheme

EMI Scheme, Bullet Repayment Scheme

Loans upto Rs. 1 cr

Apply Gold Loan @ 9.90%*

Occupation

Salaried Self Employed Professional Businessman

Type of Loan Required

Your Residence City or Pincode

Loan Amount Needed

Rs.

Gross Annual Receipt

Rs.

Net Monthly Income

Rs.

Full Name

Mobile Number

+91

Choose Your Employer type

Company You Work For

Select Your Profession

Type of Property

Weight of Gold to Pledge

Type of Car

Annual Profit

Rs.

Annual Turnover

Existing Loan From

Existing Loan From

Current Loan Outstanding

Current Interest Rate on Loan

EMI Amt You Pay Monthly

I authorize MyLoanCare, its partners to contact me. This over rides my number being in NDNC registry

Manappuram Gold Loan

Gold Loans are loans availed by pledging your gold ornaments with a
bank. Manappuram gold loan can be taken for meeting urgent personal expenses
like children education, marriage and other financial emergencies in the family as well as for
business purposes. The gold mortgaged acts as a security to the loan. Taking a loan
from Manappuram has the following benefits:

You can avail loan for extremely short tenures of even a day to meet your urgent fund requirement.

Manappuram offers an extremely quick and hassle free processing and disbursals on jewel loans with an online EMI payment facility.

Manappuram Gold Loan Details

If you are planning to take a Loan against Gold from Manappuram, you need to know the following details of its gold loan schemes:

Purpose of Gold loan: To meet personal and business expense requirements

Collateral: Loan against security of your gold jewelry

Type of Gold Accepted: Gold jewelry or gold coins of up to 50 grams with a purity of 18 to 22 carat

Customer Segments: Manappuram offers jewel loans to all individuals above 18 years of age including salaried, self-employed professionals, businessmen, students, pensioners and housewives

Gold Loan Features

Manappuram Gold Loan Interest Rate starts from 9.90% to 26.00%

Manappuram charges a processing fees of Rs. 10 (to be paid at time of settlement)

Loan Tenure of Gold Loan ranges from 1 day to 12 months

Lowest EMI per lakh on Gold Loan from Manappuram is Rs. 8,787 offered at the lowest interest rate of 9.90% at the longest loan tenure of 12 months

Manappuram allows prepayment of jewel loans with Nil charges

Documents Requirement: Only basic KYC documents for address proof and income proof required. The bank doesn’t require you to submit your income proof or doesn’t check your CIBIL score for approving a gold loan.

Popular Gold Loan Schemes of Manappuram

EMI Scheme

Bullet Repayment Scheme

How can I get a Gold Loan from Manappuram ?

You can apply for a gold loan with Manappuram directly through branch walk-in or by filling an online application form. However, to get the best gold loan rate offers and comparison of all banks, you can apply online through MyLoanCare. MyLoanCare will give you a detailed comparison of gold loan schemes of all banks, calculate your gold loan eligibility and connect you to the best bank for gold loan. Customer representatives of bank will get in touch with you instantly to fix up an appointment for branch visit. You will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting loan is smooth, convenient and quick. You can get gold loan in a single branch visit during which Manappuram will do an appraisal of your jewellery in terms of its purity and weight. In case, the jewelry meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewelry.

Manappuram Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in Manappuram is 9.90%.The factors that are used by Manappuram to calculate interest on gold loan are loan amount, loan tenure and loan required as a percent of value of gold jewelry. Manappuram’s existing account holders get gold loan at best rates compared to other customers.

Loan Amount: The amount of gold loan you can avail depends on the weight of jewelry you can pledge with the bank. Generally, banks offer a jewel loan per gram of gold which differs
by the purity of gold and loan to value ratio offered. Banks offer lower interest rates for
higher amount. Manappuram offers
loan between Rs. 1,000 and Rs. 1 Cr amount.

Relationship with the Bank: Manappuram offers special rates, offers
and charges to the existing account holders of the bank. Those who have made their payments
on time in the past can get the benefit of low gold loan interest rate
from Manappuram.

Loan tenure: Many banks charge higher rate of interest for gold loans of lower tenure
and lower interest rate for gold loans of higher tenure. Manappuram offers
gold loan with a tenure of 1 day to 12 months.

Loan to Value ratio: Maximum gold loan to value of gold jewelery ratio on gold jewelry has been fixed
at 75% by RBI. However, Manappuram also offers loans at
lower LTVs. Interest rate on loans with lower LTV will be lower compared to loans with
higher LTV. Maximum LTV offered by Manappuram is 75% calculated on net weight of gold in your jewelry.

Purpose of Loan: All banks, including Manappuram also offer gold loan for agricultural purposes at low concessional rates, as the same is counted under priority sector lending targets of the bank. Manappuram's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.

Other Charges of Gold Loan Manappuram

In addition to interest rates, Manappuram also carry some other charges while offering gold loan which include:

No, Manappuram does not offer any special gold loan scheme for agriculture. You will need to avail loan against gold against the bank’s regular gold loan scheme, even if you need it for agricultural purposes.

Manappuram Finance recorded 14.4% decline in consolidated net profits, which stood at Rs 173.34 crore in the third quarter ended December 31.
The net profit in October- December period stood at Rs 202.54 crore.

2018-01-01 :Manappuram Promoter may raise stake

The Manappuram General Finance stock has doubled in the last year. The promoters have no intention of selling their stake because of their confidence in the company and may, instead buy more stock from open market.

2017-11-09 :Manappuram Fiance raises Rs 200 cr

Manappuram Finance has raised funds worth Rs 200 crore through the issue of secured bonds on a private placement basis. The Kerala based non-banking finance company, Manappuram is a one of the leading gold loan financing companies that started its operations back in 1949.

2017-11-09 :Manappuram net profit for Q2 falls 16%

The consolidated net profit of Manappuram Finance Ltd for Q2 FY18 stood at Rs.160.37 crore, which is a decline of 16.6 % from last year. Total operating income during the quarter is at Rs.830.03 crore, which is a dip by 1.5% from a previous year. The long term credit rating of the company was upgraded to AA (stable) by CARE Ratings during the quarter.

2017-10-20 :Gold loan NBFCs report lower delinquency, earning profits

Gold loan NBFCs like Manappuram Finance are reporting lower defaults after introducing products with regular interest collection and shorter loan tenures. As per the CRISIL report, gold loan lenders have reported Return on Advances of over 4% in current fiscal year of 2017, significantly higher than 2.5% reported in fiscal year 2014.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.